national securities depository ltd. - nsdl securities depository ltd. ® master circular mutual fund...

National Securities Depository Ltd.

®

Master Circular

Mutual Fund units in dematerialised form

Version 1.1 – May 2013

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NSDL: Towards a Secure Future

®

Ref. No. Description Page No.

1 Introduction

I Facility for holding Mutual Fund (MF) units in dematerialised form 4

II Know your Client (KYC) 4

III Code of conduct / AMFI – NISM certification 4

IV Modules for processing instructions in eDPM System 4

2 Security Master (ISIN) Download 5

3 Conversion of MF units represented by SoA into dematerialised form

through Participants

I Introduction 6

II Procedure 6

III Conversion directly through AMC / RTA discontinued 8

IV Dematerialisation of physical certificates of MF Units of UTI Asset

Management Company Limited

8

4 Reconversion of MF units into SoA

I Introduction 9

II Procedure 9

5 Option to hold MF units in dematerialised form while subscribing 10

6

Subscription of MF units in dematerialised form through Stock Exchange

platform

I Procedure 11

II Credit of MF units of ELSS under lock-in in BO accounts 12

7 Redemption of MF units (Security Type Code ‘20’) [held in dematerialised

form] through Stock Exchange platform

I Settlement details for submission of instructions 13

II Submission of instructions through SPEED-e 14

8

Redemption through Participants

I Introduction 15

II Procedure 15

9 Transferability of MF units 16

10 Transaction Statement

INDEX Master Circular – Version 1.1

Mutual Fund units in dematerialised form

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I Dispatch of Transaction Statement 16

II Order of display of MF/non-MF ISINs in the Transaction Statement 16

III Footnote in the Transaction Statements provided to Clients 17

11 Additional facilities

I SMS Alerts for credits / debits of MF units in demat accounts 18

II IDeAS facility - Display of Mutual Fund holdings & NAV 18

III Daily Price file 18

12 Fee on transactions in MF units held in the depository system 18

13 Procedure for opening Clearing Member Pool Account of MF/ AMC 19

14 Reports, downloads and back office file formats

I Reports 20

II Downloads 21

III Back office file formats 21

15 Reference Circulars / Bye Laws & Business Rules 22

16 Name of the Annexure 26

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(1) Introduction

(I) Facility for holding Mutual Fund units in dematerialised form

The existing demat accounts can be used for holding Mutual Fund (MF) units in dematerialised

form. In case an investor does not have a demat account and wish to hold MF units in

dematerialised form, such an investor would be required to open a demat account with any

Participant of NSDL. In this regard, Participant should ensure to follow the guidelines

mentioned in Master Circular on Account Opening at the time of opening demat account.

(II) Know your Client (KYC)

Where investor desires to hold units in dematerialised form, the KYC performed by Participant

would be considered compliance with applicable requirements specified for MF / Asset

Management Companies (AMCs).

(III) Code of conduct / AMFI – NISM certification

Participants will be eligible to be considered as official points of acceptance as per SEBI

Circular No. SEBI/IMD/CIR No.11/78450/06 dated October 11, 2006 and conditions stipulated

in SEBI Circular No. SEBI/IMD/CIR No.11/183204/2009 dated November 13, 2009 for stock

brokers viz. AMFI/ NISM certification, code of conduct prescribed by SEBI for Intermediaries of

MF, shall be applicable for Participants as well.

(IV) Modules for processing instructions in eDPM System

Security

Type

Code

Description Manual processing of

instructions in eDPM

System

Batch Upload of

instructions in

eDPM System

13 Conversion of physical

certificates into demat form.

Demat/RematDemat Upload/Download

E-DPM Upload

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Security

Type

Code

Description Manual processing of

instructions in eDPM

System

Batch Upload of

instructions in

eDPM System

13 Conversion of securities held in

demat form into physical

certificates.

Demat/RematRemat/

Repurchase Remat

Upload/Download

E-DPM Upload

Repurchase of securities held

in demat form.

Demat/RematRemat/

Repurchase Repurchase

13* / 20 Conversion of MF units

represented by Statement of

Account (SoA) into demat form.

Demat/RematConversion

of Units Represented by

SOA

13 / 20 Reconversion of MF units (held

in demat form) into SoA.

Demat/RematReconversi

on of Units into SOA/Mutual

Fund Redemption

Reconversion of Units into

SOA

Redemption of MF units (held

in demat form) through

Participants.

Demat/RematReconversi

on of Units into SOA/Mutual

Fund Redemption MF

Redemption

* Representations were received from Participants regarding Clients holding MF units (Security

Type Code ‘13’) in SoA form.In view of this, facility to execute dematerialisation request in

respect of MF units (Security Type Code ‘13’) representated by SoA through „Conversion of

Units represented by SOA‟ module was made available.

(2) Security Master (ISIN) Download

„Security Master (ISIN)‟ download is provided at Local DPM System

Uploads/DownloadsDownloadsMaster, which will facilitate Participants to download all the

updated ISIN details including ISINs of MF units. The download will contain details viz.,ISIN, ISIN

name, the company for which the ISIN is created, the security type, the face value of the ISIN

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and the Registrar and Transfer Agent (RTA) associated with the ISIN etc. Further, updated list of

MF ISINs are also available at https://nsdl.co.in/nsdlnews/hold-mutual-fund-units.php

(3) Conversion of MF units represented by SoA into dematerialised form through Participants

(I) Introduction

Facility for Clients to submit request for conversion of their MF units represented by SoA into

dematerialised form is available through their Participants.

Facility to initiate instructions with option „ALL Units‟ (i.e., not entering number of units) with

respect to MF ISINs is also available. Participants will enter the requisite details including the

MF ISIN and select „ALL Units‟ option at the time of initiating manual instruction for conversion.

Upon selecting „ALL Units‟ option, „Requested Quantity‟ field would get disabled. This will

facilitate conversion of all units with respect to a MF scheme (ISIN) held in the folio of the Client

at the time of confirmation of request by the AMC / RTA.

As per SEBI Circular No. CIR/IMD/DF/9/2011 dated May 19, 2011, it is mentioned that often

investors‟ request for dematerializing their units is rejected as Participants are not having/or

having incorrect ISIN of each option of the scheme. In this regard, MFs/AMCs will be required to

obtain ISIN for each option of the scheme and quote the respective ISIN along with the name of

the scheme, in all Statement of Account/Common Account Statement (CAS) issued to the

investors from October 1, 2011 onwards.

(II) Procedure

(i) Every Client desirous of converting MF units represented by SoA into dematerialised form

through a Participant shall submit to the Participant the Conversion Request Form alongwith

the SoA evidencing the holding of MF units. The specimen of Conversion Request Form is

given in Annexure B to Business Rules (enclosed at Exhibit 1).

https://nsdl.co.in/nsdlnews/hold-mutual-fund-units.php

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(ii) The Client submitting the Conversion Request Form shall declare to the Participant that the

units sought to be held in dematerialised form are in the name of the Client itself and are not

already dematerialised and no certificates are issued against these units.

(iii) The Client shall submit separate Conversion Request Form for its each folio number with the

Issuer and/or its RTA and for each of its account with the Participant.

(iv) The Client shall submit a separate Conversion Request Form for locked-in and free units

under the same ISIN.

(v) The Participant shall first ensure that the MF units submitted by its Client for conversion

belong to the list of securities admitted by the Depository as eligible to be held in

dematerialised form.

(vi) The Participant shall ensure that the Conversion Request Form submitted by its Client is

completely filled and duly signed.

(vii) The Participant shall verify the name and the pattern of holding of the Client‟s account with

the name and the pattern of holdings as mentioned on the SoA and Conversion Request

Form. Further, the Participant shall verify all other details and verify the number of pages of

SoA mentioned on the Conversion Request Form with the SoA submitted by the Client.

(viii) The Participant shall intimate the Conversion Request to the Depository. After writing the

Conversion Request Number on the Conversion Request Form and retaining a copy of the

form, forward the Conversion Request Form alongwith the SoA to the Issuer or its RTA.

(ix) The Conversion Request Form shall be forwarded by the Participant to the Issuer or its RTA

within seven days of accepting the same from its Client.

(x) The Issuer or its RTA shall after due verification promptly confirm the conversion request to

the Depository for credit of the units into the account of the Client.

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(xi) In case any objection memo has been received for such units from the Issuer or its RTA, the

Participant shall facilitate the correction of such objections on a timely basis.

(III) Conversion directly through AMC / RTA discontinued

The procedure for conversion of MF units represented by SoA into dematerialised form –

through AMC/ RTA for MF ISINs (Security Type Code ‘13’ and ‘20’) has been discontinued.

As a result, conversion requests should be submitted only through Participants.

(IV) Dematerialisation of physical certificates of MF units of UTI Asset Management

Company Limited

Security type code in respect of the following ISINs of UTI Asset Management Company

Limited was changed from „13‟ to „20‟:

Sr. No. ISIN Description ISIN

1 UTI-Master share Scheme INF189A01038

2 UTI-Master Plus Scheme INF189A01061

3 UTI-Equity Fund INF189A01053

4 UTI-Top 100 Fund INF189A01046

In case Clients are holding certificates (and not SoA) of the aforesaid MF units in physical

form and wish to dematerialise them, Participants are requested to initiate dematerialisation

request in the aforesaid ISINs through „Demat‟ module in eDPM System. Further, in case

SoA for the aforesaid MF units are submitted by Clients then Participants must initiate

conversion request through „Conversion of Units represented by SOA‟ module in eDPM

System. Further, batch files can be uploaded in eDPM System through

„Upload/DownloadE-DPM Upload‟.

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(4)Reconversion of MF units into SoA

(I) Introduction

Facility for Clients to re-convert MF units (held in demat form) (Security Type Code ‘20’) into

SoA is available through their Participants.

(II)Procedure

(i) Every Client desirous of reconverting units held in dematerialised form to units in SoA, shall

submit to the Participant Reconversion Request Form. The specimen of the same is given in

Annexure C to Business Rules (enclosed at Exhibit 2).

(ii) The Client shall submit separate Reconversion Request Form (i.e. Annexure C to Business

Rules) for each Issuer separately.

(iii) The Client shall submit a separate Reconversion Request Form for locked in and free units

under the same ISIN.

(iv) The Participant shall ensure that the Reconversion Request Form (i.e. Annexure C to

Business Rules) submitted by its Client is completely filled and duly signed.

(v) The Participant shall ensure that the Client has sufficient free or locked-in units in its account

maintained in electronic form and also verify the signatures on each Reconversion Request

Form (i.e. Annexure C to Business Rules) with the signatures held with it and authorise each

Reconversion Request Form (i.e.Annexure C to Business Rules) before forwarding it to the

Issuer or its RTA.

(vi) The Participant shall intimate the Reconversion Request to the Depository. After writing the

Reconversion Request Number on the Reconversion Request Form (i.e. Annexure C to

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Business Rules) and retaining a copy of the form, forward the Reconversion Request Form

(i.e. Annexure C to Business Rules) to the Issuer or its RTA.

(vii) The Reconversion Request Form shall be forwarded by the Participant to the Issuer or its

RTA within seven days of accepting the same from its Client.

(viii) The units issued at the time of reconversion of units into SoA form shall be in the name(s) of

the person(s) who held the account in respect of such units. At the time of reconversion of

units, the units in SoA form shall be issued to the persons as per the pattern of holdings in

the account of the Participant from which such units are reconverted.

(ix) The Issuer or its RTA shall after due verification promptly confirm the reconversion request to

the Depository for debit of units from the account of the Client.

(x) In case any objection memo has been received for such units from the Issuer or its RTA, the

Participant shall facilitate the correction of such objections on a timely basis.

(5) Option to hold MF units in dematerialised form while subscribing

As per SEBI Circular No. CIR/IMD/DF/9/2011 dated May 19, 2011, MFs/AMCs should

provide an option to the investor to receive allotment of MF units in their demat account while

subscribing to any scheme (open ended/close ended/Interval). Therefore, MFs/AMCs are

required to invariably provide an option to the investors to mention demat account details in

the subscription form, in case they desire to hold units in demat form. Further, this option

needed to be provided to investors in all their schemes (existing and new) from October 1,

2011 onwards.

In this context, SEBI had advised Association of Mutual Funds in India (AMFI) that the demat

option for Systematic Investment Plan (SIP) may be implemented with effect from January 1,

2012. Participants are hereby informed that the R&T Agents of mutual funds have confirmed

that they will be facilitating:

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(i) Conversion of mutual fund units into demat form in respect of existing SIPs.

(ii) New subscriptions of SIPs for mutual funds units in demat form.

For conversion of mutual fund units into demat form with SIP facility, Participants may guide their

Clients to opt for “ALL” option for conversion instead of “quantity” option. In case the “ALL” option for

conversion is selected, the R&T Agent/AMC would be able to credit all units held by the investor into

demat form.

(6) Subscription of MF units in dematerialised form through Stock Exchange platform

(I) Procedure

(i) Clients (i.e., subscribers) can subscribe to the MF units through their Stock Brokers as per

the existing process.

(ii) The MF units will be credited by AMC / RTA into the Beneficiary Owner (BO) account of the

AMC through credit corporate action under free balance.

(iii) The AMC would transfer MF units from its BO account to its AMC/MF Clearing Member (CM)

Pool account as given below:

Sr. No.

Stock Exchange

Name

CC Name

Market Type

Deadline time for execution

of instructions in the eDPM

System

Deadline time for

submission of

instructions on SPEED-e

1 National Stock Exchange of India Limited

NSCCL Normal Subscription

2.30 pm on the next day of the order date (i.e. by T+1 day)


2 Liquid Subscription

4.30 pm on the same day of the order date (i.e. on T day)


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3 Bombay Stock Exchange Limited

BOISL Mutual Fund

-

Subscription



4 MF

Subscription

- Liquid



(iv) The AMC has to execute Delivery-out instructions from its CM Pool Account or avail Auto DO

facility of NSCCL / BOISL to deliver the MF units [including ELSS (Equity Linked Saving

Schemes)] for Pay-in.

(v) Upon execution of Pay-in of securities as per the settlement schedule declared by NSCCL /

BOISL, the CM Pool Account of the AMC will be debited through the usual settlement

process.

(vi) NSCCL and BOISL will credit the MF units into the respective subscriber CM‟s Pool account

by Pay-out through usual settlement process.

(vii) The CM would transfer the MF units to the subscriber‟s beneficiary account. In case MF units

of ELSS is credited into the subscriber‟s beneficiary account, the same would be locked-in for

a period of three years from the date of allotment.

(II) Credit of MF units of ELSS under lock-in in BO accounts

(i) The MF units of ELSS credited in the BO account of Clients by their CM would be locked-in

for a period of three years from the date of allotment. The allotment date would be the

„Settlement Start Date‟, as informed by the Stock Exchange. Participants can ascertain the

„Settlement Start Date‟ from the „CC Calendar‟ provided in Local DPM System.

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(ii) To identify the ISINs that are pertaining to MF units of ELSS as informed by the AMC, ISIN

details would be made available at NSDL‟s intranet site (https://i-Assist). The ISIN list would

be updated on a daily basis by 8.30 pm.

(iii) Upon receipt of MF units of ELSS into the CM Pool Account on Pay-out, these ELSS Units

can be transferred only to the BO account. CM Pool to CM Pool transfers, Inter Settlement

transfers and Inter Depository transfers will not be permitted from the CM Pool account till the

lock-in release date. In view of this, Participants may inform their Clients viz;

(a) CMs to take adequate precautions such as mention correct Client ID in the Delivery

Instruction Slips (DIS) / capture correct Client details in case instructions are electronically

submitted, at the time of transferring MF units of ELSS from their CM Pool Accounts to BO

accounts.

(b) AMCs to take adequate precautions to mention correct settlement number and market

type in the DIS / capture correct settlement number in case instructions are electronically

submitted at the time of transferring MF units of ELSS from their BO accounts to their

AMC CM Pool Accounts.

(7) Redemption of MF units (Security Type Code ‘20’) [held in dematerialised form] through

Stock Exchange platform

(I) Settlement details for submission of instructions

In addition to the Client placing order through its Stock Broker, the Client will have to submit

Delivery Instruction Slips to its Participant to transfer the MF units to the designated CM Pool

account of NSCCL / BOISL, as given below:

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Sr. No.

Stock Exchange

Name

CC Name

CM BP ID

Market Type

Deadline time for

execution of

instructions in the eDPM

System

Deadline time for

submission of

instructions on SPEED-

e

1 National Stock Exchange of India Limited

NSCCL IN565576 Normal Redemption

4.30 pm on Trade Day (Order Day)

3.30 pm on Trade Day (Order Day)

Liquid Redemption

MFSS T+2

MFSS T+4

2 Bombay Stock Exchange Limited

BOISL IN640016 Mutual

Fund-

Redemption

(II) Submission of instructions through SPEED-e

To facilitate SPEED-e Clients (Password based Users) to submit instructions pertaining to MF

units (for redemption purpose) through SPEED-e facility, designated CM BP IDs viz., IN565576

and IN640016 of NSCCL and BOISL respectively have been incorporated as pre-notified

accounts on SPEED-e facility. Clients can transfer only MF units (Security Type Code ‘20’) into

these designated pre-notified pool accounts through SPEED-e facility.

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(8)Redemption through Participants

(I) Introduction

To redeem the MF units (Security Type Code ‘20’) through Participants, Clients are required to

submit Repurchase / Redemption Form (RF) to Participants. As per SEBI‟s advice, Participants

need not forward the physical copy of the RF to the Issuer / RTA. After due verification, the RF

submitted by Clients will be retained by the Participants. Participants are required to only

execute electronic redemption request in the eDPM System.

At the time of initiating manual instruction for redemption, facility to mention „All Units‟ (i.e., not

entering number of units) or „Amount‟ is also available for Participants. Participant will enable

the radio button of instruction type – „MF Redemption‟, enter Locked-in details (if any), enter

requisite details including the MF ISIN and select „ALL Units‟ option. Upon selecting „ALL Units‟

option, „Requested quantity‟ field would get disabled. Similarly, Participants will enable the

radio button of „Amount‟ option, if the redemption request is „Amount‟ based. In such a case,

„Amount‟ field would be enabled to facilitate entering of an amount.

(II) Procedure

(i) In case the Issuer gives an option to the Client for repurchase or redemption of securities held

in dematerialised form, the Client on exercising his option, shall submit to the Participant the

RF in the format given in Annexure HA to Business Rules (enclosed at Exhibit 3).

(ii) The Participant shall ensure that the Client submits a separate RF for each security and for

each account maintained by the Client with the Participant.

(iii) The Participant shall ensure that the RF submitted by his Client is completely filled and duly

signed. The Participant shall verify the details mentioned in the RF with the details of Client‟s

account and ensure that the RF is in order.

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(iv) The Participant shall verify the signatures on each RF with the signatures on the records held

with it.

(v) The Participant shall, except in case of amount based redemption, ensure that the Client has

sufficient free holdings in his account before executing the instructions in the DPM (DP).

(vi) The Participant shall execute the instructions for Repurchase or Redemption of securities in the

DPM (DP).

(vii) The Issuer or its RTA shall verify the request in the DPM (SHR), and if in order, confirm the

request for Redemption or Repurchase in the DPM (SHR) and pay the proceeds directly to the

Client.

(9)Transferability of MF units

MF units (Security Type Code ‘20’) held in dematerialised form can be transferred from one

demat account to another demat account including inter-depository transfers.

(10) Transaction Statement

(I) Dispatch of Transaction Statement

Participants must continue sending the Transaction Statement to their Clients as per the

existing frequency which will include MF units also.

(II) Order of display of MF/non-MF ISINs in the Transaction Statement

To facilitate Client to identify transactions carried out in MF based ISINs and non MF based

ISINs, the Transaction Statement will display the transactions / holdings of ISINs in the

following order:

(a) Transactions and balances of non MF based ISINs viz., equity, debentures, certificate of

deposits etc.

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(b) Transactions and balances of MF based ISINs [activated under security type code ‘20’ and

‘13’ (if instructions are initiated through ‘Conversion of Units represented by SOA’ module

in eDPM System)].

(c) Holdings of non MF based ISINs viz., equity, debentures, certificate of deposits etc.

where no transactions have been executed.

(d) Holdings of MF based ISINs [activated under security type code ‘20’ and ‘13’ (if

instructions are initiated through ‘Conversion of Units represented by SOA’ module in

eDPM System)] where no transactions have been executed.

(III) Footnote in the Transaction Statements provided to Clients

In order to spread awareness about the facility of holding MF units in dematerialised form

and encourage investors to avail this facility, following footnote has been incorporated in

the Transaction Statements, of Client accounts (Active or Frozen) where PAN flag(s) is

enabled in Local DPM System.

“You can now hold your mutual fund investments in this demat account. Contact

your Depository Participant or your Stock Broker for more information”.

In case of accounts which are suspended for PAN non-compliance, the footnote related to

PAN will continue to be displayed.

Participants who are providing Transaction Statements to their Clients through their back

office system must ensure that the aforesaid footnote is incorporated in the Transaction

Statements.

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(11) Additional facilities

(I) SMS Alert for debits of MF units in demat accounts

SMS Alert will be sent to the demat account holders for debits of MF units.

A sample text of the SMS is as follows:

Debit of MF units

“________ units of __________ (Scheme Name / ISIN as the case may be) debited on

“………….” (date, dd-mm-yy) from your demat a/c no xxxx5678 – NSDL”

(II) IDeAS facility – Display of MF holdings & NAV

Clients availing IDeAS facility can view the latest balances of their demat accounts on the

internet. IDeAS facility displays the values in respect of MF units held by the Clients in their

demat accounts based on the NAVs (i.e.,Net Asset Value). The date of the NAV of MF

units would also be displayed on IDeAS facility.

(III) Daily Price file

Facility is provided to Participants to download daily price file and NAV file for MF units

(Security Type Code ‘13’ and ‘20’) in a single file [with file name “Combined File” available

at intranet site of NSDL (i.e. https://i-Assist/)].

(12) Fee on transactions in MF units held in the depository system

In view to encourage investors to hold MF units in the depository system, it has been

decided not to charge any fee to Participants till September 30, 2013 in respect of

transactions done in MF units (Security Type Code ‘20’), which are held in the depository

system.

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(13) Procedure for opening CM Pool Account of MF / AMC

As per the operating guidelines issued by the Stock Exchanges, MF / AMC will be required

to open a Pool Account with any Participant of NSDL. The procedure for opening of MF /

AMC Pool Account will remain the same as opening of Pool Account of a CM except that

copy of SEBI certificate as a CM will not be required and e-mail from Clearing

Corporation/Stock Exchange intimating the CM ID will be acceptable. The detailed

procedure is given below:

(i) The MF / AMC should fill up KYC Application form (Part-I) and the Account Opening Form

(Part II) as per the format given in Annexure K to the Business Rules of NSDL and submit

the same to the Participant alongwith the agreement (as per Annexure B to the Bye Laws)

duly executed on a stamp paper of appropriate value. The schedule of fees to be charged

by the Participant to the MF / AMC should form a part of the agreement.

(ii) Following documents are required for opening a MF / AMC Pool account:

(a) A copy of the letter/e-mail from the Clearing Corporation/Stock Exchange intimating

allotment of the CC-CM-ID to the MF / AMC.

(b) Board Resolution for authorised signatories.

(c) Memorandum of Association and the Articles of Association.

(d) Specimen copy of the cheque for capturing the 9-digit MICR code.

(iii) Participant should verify the completeness of the account opening form and verify the

copies submitted with the original documents.

(iv) If the documents are in order, the Participant should accept them and give an

acknowledgement duly signed and stamped to the MF / AMC.

(v) The Participant should forward the following documents to NSDL for allotment of CM BP ID

(a) Copy of Account opening form,

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(b) Copy of the letter/e-mail from the Clearing Corporation/Stock Exchange intimating

allotment of the CC-CM-ID. These documents (except the e-mail) should be verified

and attested as per point no A (2) of SEBI Circular No. MIRSD/SE/Cir-21/2011 dated

October 5, 2011 alongwith the stamp of the Participant, signature of Compliance

Officer, name and designation.

(vi) NSDL will allot the CM-BP-ID and intimate to the Participant electronically.

(vii) The Participant should capture the signature(s) of the authorised signatories as given in the

Account Opening Form in the Local DPM System.

(viii) The Participant should enter the Client account number generated from the Local DPM

System in the Account Opening Form.

(ix) The Participant should print the Client Master Report and give it to the MF / AMC alongwith

a copy of the Agreement.

(14) Reports, downloads and back office file formats

(I) Reports

Participants can refer following reports made available at Local DPM

SystemReportsMutual Fund, which will provide instruction details:

(i) Conversion of MF units represented by SoA into dematerialised form

(a) Conversion of Units Represented by SOA – Request Form

(b) Conversion of Units Represented by SOA – Request Status Report

(c) Conversion of Units Represented by SOA – Request Rejection Memo

(ii) Reconversion of MF units into SoA

(a) Reconversion of Units into SOA – Request Form

(b) Reconversion of Units into SOA – Request Status Report

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(c) Reconversion of Units into SOA – Request Rejection Memo

(iii) Redemption through Participants

(a) Redemption – Request Form

(b) Redemption – Request Status Report

(c) Redemption – Request Rejection Memo

Participants are requested to note that in case there are pending instructions to be

confirmed/rejected by AMC/RTA with respect to Conversion instruction initiated with „ALL

Units‟ option and/or Redemption instruction initiated with „Amount‟ option, Client account

cannot be closed in such cases till the AMC/RTA fully confirms/rejects such instructions. To

ascertain such cases, refer the above mentioned request status report [point no. 14(I)].

(II) Downloads

Reports‟ and ‟Downloads‟ available in the Local DPM System is enclosed at Exhibit 4.

Covering letters would also be generated for the aforesaid modules [mentioned point no.

14(I)] upon initiation of instructions.

(III) Back office file formats

File formats in respect of the back office batch interface with the eDPM/Local DPM System

are available at the intranet site of NSDL (https://i-Assist/File Formats/Back office/Back

office file formats - New DPM System).

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(15) Reference Circulars / Bye Laws & Business Rules

Ref.

No.

Description Circular No. / Bye Laws & Business

Rules

Dated

1 Introduction

I & II Facility for holding MF units in

dematerialised form / KYC

NSDL/POLICY/2009/0116 December 5, 2009

SEBI/IMD/CIR No.11/183204/2009 November 13, 2009

III Code of conduct / AMFI–NISM

certification

NSDL/POLICY/2010/0120 November 27, 2010

SEBI-CIR/IMD/DF/17/2010 November 9, 2010

SEBI/IMD/CIR No.11/78450/06 October 11, 2006

SEBI/IMD/CIR No. 11/183204/2009 November 13, 2009

IV Modules for processing

instructions in eDPM System

NSDL/POLICY/2011/0029 April 6, 2011

NSDL/POLICY/2011/0051 June 21, 2011

NSDL/POLICY/2012/0095 September 12,

2012

2 Security Master (ISIN)

Download

NSDL/POLICY/2010/0079 July 7, 2010

3 Conversion of MF units represented by SoA into dematerialised form through Participants

I Introduction NSDL/POLICY/2010/0075 July 1, 2010


SEBI-CIR/IMD/DF/9/2011 May 19, 2011

II Procedure NSDL/POLICY/2010/0075 July 1, 2010


Rule 11.7 to Business Rules

III Conversion directly through

AMC / RTA discontinued

NSDL/POLICY/2010/0104 September 8, 2010


IV Dematerialisation of physical

certificates of MF units of UTI

Asset Management Company

Limited

NSDL/POLICY/2010/0116 October 28, 2010


4 Reconversion of MF units into SoA

of 26


®

Ref.

No.


Rules

Dated

I & II Introduction / Procedure NSDL/POLICY/2011/0051 June 21, 2011




5 Option to hold MF units in

dematerialised form while

subscribing

SEBI-CIR/IMD/DF/9/2011 May 19, 2011

NSDL/POLICY/2012/0021 February 14, 2012

6 Subscription of MF units in dematerialised form through Stock Exchange platform

I & II Procedure / Credit of MF units of

ELSS under lock-in in BO

accounts


SEBI-CIR/IMD/DF/17/2010 November 9, 2010




NSDL/POLICY/2011/0019 March 4, 2011

NSDL/POLICY/SPEED-e/2011/0002 January 24, 2011


NSDL/POLICY/2012/0081 August 7, 2012

NSDL/POLICY/2012/0107 October 1, 2012


7 Redemption of MF units (Security Type Code ‘20’) [held in dematerialised form] through

Stock Exchange platform

I Settlement details for

submission of instructions





NSDL/PI/2011/0417 March 3, 2011


NSDL/POLICY/SPEED-e/2011/0002 January 24, 2011

II Submission of instructions

through SPEED-e

NSDL/POLICY/SPEED-e/2011/0006 February 28, 2011

of 26


®

Ref.

No.


Rules

Dated

8 Redemption through Participants

I & II Introduction / Procedure NSDL/POLICY/2010/0140 December 30, 2010






9 Transferability of MF units NSDL/POLICY/2010/0109 September 30,

2010

SEBI-CIR/IMD/DF/10/2010 August 18, 2010

10 Transaction Statement

I Dispatch of Transaction

Statement


SEBI/IMD/CIR No.11/183204/2009 November 13, 2009

II Order of display of MF/non-MF

ISINs in the Transaction

Statement


III Footnote in the Transaction

Statement provided to Clients

NSDL/POLICY/2010/0002 January 4, 2010

11 Additional facilities

I SMS Alerts for credits / debits of

MF units in demat accounts

NSDL/POLICY/2010/0003 January 6, 2010


II IDeAS facility - Display of MF

holdings & NAV


III Daily Price file NSDL/POLICY/2010/0072 June 30, 2010


2012

12 Fee on transactions in MF

units held in the depository

system

NSDL/POLICY/2013/0048

March 28, 2013

13 Procedure for opening CM NSDL/POLICY/2010/0129 December 11, 2010

of 26


®

Ref.

No.


Rules

Dated

Pool Account of MF / AMC SEBI-CIR/IMD/DF/17/2010 November 9, 2010

14 Reports, downloads and back office file formats

I & II Reports and downloads NSDL/POLICY/2011/0051 June 21, 2011

III Back office file formats NSDL/POLICY/2010/0032 March 27, 2010








- Other circulars NSDL/POLICY/2009/0068 August 1, 2009




NSDL/POLICY/SPEED-e/2010/0003 March 9, 2010




2010



2011



2012

of 26


®

(16) Name of the Annexure

Exhibit Description

1 Conversion Request Form (Annexure B to Business Rules)

2 Reconversion Request Form (Annexure C to Business Rules)

3 Repurchase / Redemption Form (Annexure HA to Business Rules)

4 Reports and Downloads

(i) Conversion of Units Represented by SoA

(ii) Conversion of Units Represented by SoA („All Units‟)

(iii) Reconversion of Units into SoA

(iv) Redemption („All Units‟)

(v) Redemption („Amount‟)

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